LONDON--(BUSINESS WIRE)--Sep 28, 2020--
Technavio has been monitoring the geothermal drilling market for power generation and it is poised to grow by USD 244.99 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Geothermal Drilling Market For Power Generation 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The binary plants are expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- The need for efficient use of resources and reduction of emissions is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 5%, the incremental growth of the market is anticipated to be USD 244.99 million.
- Who are the top players in the market?
- Baker Hughes Co., Deep Rock Manufacturing Co., Fraste Spa, Geotech Drilling Services Ltd., Halliburton Co., Huisman Equipment BV, KCA Deutag Alpha Ltd., Marton Geotechnical Services Ltd., Ormat Technologies Inc., and Schlumberger Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Rising demand for energy is one of the major factors driving the market. However, the high capital requirement restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 42% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Baker Hughes Co., Deep Rock Manufacturing Co., Fraste Spa, Geotech Drilling Services Ltd., Halliburton Co., Huisman Equipment BV, KCA Deutag Alpha Ltd., Marton Geotechnical Services Ltd., Ormat Technologies Inc., and Schlumberger Ltd. are some of the major market participants. The rising demand for energy will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Geothermal Drilling Market for Power Generation 2020-2024: Segmentation
Geothermal Drilling Market for Power Generation is segmented as below:
- Binary Plants
- Steam Plants
- North America
- South America
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Geothermal Drilling Market for Power Generation 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The geothermal drilling market report covers the following areas:
- Geothermal Drilling Market for Power Generation Size
- Geothermal Drilling Market for Power Generation Trends
- Geothermal Drilling Market for Power Generation Industry Analysis
This study identifies the need for efficient use of resources and reduction of emissions as one of the prime reasons driving the growth of the geothermal drilling market for power generation during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Geothermal Drilling Market for Power Generation 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist the growth of the geothermal drilling market for power generation during the next five years
- Estimation of the size of the geothermal drilling market for power generation and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the geothermal drilling market for power generation
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vendors in the geothermal drilling market for power generation
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Binary plants - Market size and forecast 2019-2024
- Steam plants - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
- Vendors covered
- Market positioning of vendors
- Baker Hughes Co.
- Deep Rock Manufacturing Co.
- Fraste Spa
- Geotech Drilling Services Ltd.
- Halliburton Co.
- Huisman Equipment BV
- KCA Deutag Alpha Ltd.
- Marton Geotechnical Services Ltd.
- Ormat Technologies Inc.
- Schlumberger Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
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PUB: 09/28/2020 11:00 PM/DISC: 09/28/2020 11:00 PM